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Question;Defining;Marketing For The 21st Century;Chapter 1: Defining Marketing for the 21st Century;GENERAL CONCEPT QUESTIONS;Multiple Choice;1. The most formal definition of marketing is ________.;a. meeting needs profitably;b. identifying and meeting human and social needs;c. the four Ps (product, price, place, promotion);d. an organizational function and a set of processes for creating, communicating;and delivering value to customers and for managing customer relationships in;ways that benefit the organization and its stakeholders;e. improving the quality of life for consumers;2. ________ takes place when at least one party to a potential exchange thinks;about the means of achieving desired responses from other parties.;a. Marketing management;b. Forecasting;c. Segmentation;d. Targeting;e. Distribution;3. Marketing management is ________.;a. managing the marketing process;b. monitoring the profitability of the company?s products and services;c. selecting target markets;d. developing marketing strategies to move the company forward;e. the art and science of choosing target markets and getting, keeping, and;growing customers through creating, delivering, and communicating superior;customer value;4. A social definition of marketing says ________.;a. effective marketing requires companies to remove intermediary parties to;achieve a closer connection with direct consumers;b. a company should focus exclusively on achieving high production efficiency;low costs, and mass distribution to facilitate the broadest possible access to;the company?s products;c. marketing is a societal process by which individuals and groups obtain what;they need and want through creating, offering, and freely exchanging products;and services of value with others;d. marketing is the process of extracting maximal value from consumers to;facilitate corporate growth;e. marketing is the process of aggressive selling and promotion to encourage;the purchase of products that might otherwise be unsought by the consumer;5. ________ goods constitute the bulk of most countries? production and;marketing efforts.;a. Durable;b. Impulse;c. Physical;d. Service;e. Event;6. As economies advance, a growing proportion of their activities focuses on;the production of ________.;a. products;b. events;c. experiences;d. places;e. services;7. ________ actively work to build a strong, favorable, and unique image in the;minds of their target publics.;a. Information;b. Shopping goods;c. Durable goods;d. Organizations;e. Properties;8. Charles Revson of Revlon observed: ?In the factory, we make cosmetics, in;the store, ________.?;a. we make profits;b. we challenge competitors;c. we implement ads;d. we sell hope;e. we sell quality;9. A ________ is someone seeking a response (attention, a purchase, a vote, a;donation) from another party, called the ________.;a. salesperson, customer;b. fund-raiser, contributor;c. politician, voter;d. marketer, prospect;e. celebrity, audience;10. In ________, consumers may share a strong need that cannot be satisfied by;an existing product.;a. negative demand;b. latent demand;c. declining demand;d. irregular demand;e. nonexistent demand;11. In ________, more customers would like to buy the product than can be;satisfied.;a. latent demand;b. irregular demand;c. overfull demand;d. excessive;e. negative demand;12. In ________, consumers dislike the product and may even pay a price to;avoid it.;a. nonexistent demand;b. overfull demand;c. irregular demand;d. negative demand;e. declining demand;13. Marketers often use the term ________ to cover various groupings of;customers.;a. people;b. buying power;c. demographic segment;d. social class position;e. market;14. Companies selling mass consumer goods and services such as soft drinks;cosmetics, air travel, and athletic shoes and equipment spend a great deal of;time trying to establish a superior brand image in markets called;a. business markets;b. global markets;c. consumer markets;d. nonprofit and governmental markets;e. service markets;15. Much of a brand?s strength in consumer markets depends on ________.;a. developing a superior product;b. creating superior packaging;c. ensuring the product?s availability;d. backing the product with engaging communications and reliable service;e. all of the above;16. In business markets, advertising can play a role, but a stronger role may;be played by the sales force, ________, and the company?s reputation for;reliability and quality.;a. brand image;b. distribution;c. promotion;d. price;e. performance;17. Global marketers must decide ________.;a. which countries to enter;b. how to enter each country (as an exporter, licenser, joint venture partner;contract manufacturer, or solo manufacturer);c. how to adapt their product and service features to each country;d. how to price their products in different countries;e. all of the above;18. Mohan Sawhney has proposed the concept of ________ to describe a cluster of;complementary products and services that are closely related in the minds of;consumers but are spread across a diverse set of industries.;a. metamarket;b. vertical integration;c. horizontal integration;d. betamarket;e. synchronized marketing;19. The ________ process consists of analyzing marketing opportunities;selecting target markets, designing marketing strategies, developing marketing;programs, and managing the marketing effort.;a. marketing planning;b. strategic planning;c. market research;d. opportunity analysis;e. share of customer;20. ________ are basic human requirements, ________ are the ways in which we;satisfy those requirements, and they are shaped by our society.;a. Wants, needs;b. Demands, wants;c. Needs, wants;d. Needs, demands;e. Demands, needs;21. A(n) ________ need is a need that the consumer explicitly verbalizes.;a. stated;b. real;c. unstated;d. delight;e. secret;22. The identification and profiling of distinct groups of buyers who might;prefer or require varying product and service mixes is known as ________.;a. segmentation;b. integration;c. disintermediation;d. targeting;e. partner relationship management;23. Companies address needs by putting forth a(n) ________, a set of benefits;that they offer to customers to satisfy their needs.;a. brand;b. value proposition;c. offering;d. target market;e. demand;24. A(n) ________ need is one that motivates the consumer but that the consumer;is reluctant or unwilling to explicitly verbalize.;a. real;b. unstated;c. delight;d. secret;e. stated;25. During market segmentation analysis, the marketer identifies which segments;present the greatest opportunity. These segments are called ________.;a. target markets;b. primary markets;c. tertiary markets;d. demographic markets;e. focused markets;26. For each target market, the firm develops a ________. The offering is then;positioned in the minds of the target buyers as delivering some central;benefit(s).;a. value offering;b. niche offering;c. market offering;d. segment offering;e. social offering;27. ________ reflects a customer?s judgment of a product?s performance in relation;to his or her expectations.;a. Loyalty;b. Satisfaction;c. Value;d. Expectations;e. Comparison shopping;28. If a marketer decides to use warehouses, transportation companies, banks;and insurance companies to facilitate transactions with potential buyers, the;marketer is using what is called a ________.;a. service channel;b. distribution channel;c. brand channel;d. relationship channel;e. intermediary channel;29. The ________ is a long channel stretching from raw materials to components;to final products that are carried to final buyers.;a. communication channel;b. distribution channel;c. supply chain;d. service channel;e. marketing channel;30. Value reflects ________.;a. the price consumers are charged for a product;b. the cost of manufacturing a product;c. the degree to which consumer demand for the product is positive;d. the sum of the perceived tangible and intangible benefits and costs to;customers;e. all of the above;31. ________ includes all the actual and potential rival offerings and;substitutes that a buyer might consider.;a. Competition;b. The product offering;c. A value proposition;d. The supply chain;e. The marketing environment;32. The ________ includes the actors involved in producing, distributing, and;promoting the offering. The main actors are the company, suppliers;distributors, dealers, and the target customers.;a. operations environment;b. management environment;c. strategic environment;d. task environment;e. tactical environment;33. Many countries have ________ industries to create greater competition and;growth opportunities.;a. open-market;b. deregulated;c. regulated;d. scientifically segmented;e. created mass market;34. Rising promotion costs and shrinking profit margins are the result of;a. changing technology;b. globalization;c. deregulation;d. privatization;e. heightened competition;35. Industry boundaries are blurring rapidly as companies identify new;opportunities at the intersection of two or more industries?this is called;a. globalization;b. customization;c. industry convergence;d. heightened competition;e. acquisition;36. In response to giant retailers and category killers, entrepreneurial;retailers are building entertainment into stores with coffee bars, lectures;demonstrations, and performances. They are marketing a(n) ________ rather than;a product assortment.;a. experience;b. customer value;c. customer delight;d. total service solution;e. intangible benefit(s);37. In response to threats from such companies as AOL,, Yahoo!;eBay, E*TRADE, and dozens of others, established manufacturers and retailers;became ?brick-and-click? oriented by adding online services to their existing;offerings. This process became known as ________.;a. reintermediation;b. disintermediation;c. e-commerce;d. e-collaboration;e. new-market synchronization;38. Many brick-and-click competitors became stronger contenders in the;marketplace than the pure-click firms because they had a larger pool of;resources to work with and ________.;a. better prices;b. greater value;c. well-established brand names;d. one-on-one communications;e. direct-selling capability;39. Managers of ________-oriented businesses concentrate on achieving high;production efficiency, low costs, and mass distribution.;a. selling;b. product;c. production;d. marketing;e. consumer;40. The feasibility of companies dealing with customers one at a time has risen;as a result of advances in ________, computers, the Internet, and database;marketing software.;a. improved communication flow;b. information technology;c. just-in-time manufacturing;d. factory customization;e. customer-centered strategies;41. The ________ concept holds that consumers will favor those products that;offer the most quality, performance, or innovative features.;a. product;b. marketing;c. production;d. selling;e. holistic marketing;42. The ________ is practiced most aggressively with unsought goods, goods that;buyers normally do not think of buying, such as insurance, encyclopedias, and;cemetery plots.;a. marketing concept;b. selling concept;c. production concept;d. product concept;e. holistic marketing concept;43. The ________ concept holds that consumers and businesses, if left alone;will ordinarily not buy enough of the organization?s products.;a. production;b. selling;c. marketing;d. product;e. holistic marketing;44. Several scholars have found that companies who embrace the marketing;concept achieve superior performance. This was first demonstrated for companies;practicing a ________?understanding and meeting customers? expressed needs.;a. reactive market orientation;b. proactive marketing orientation;c. total market orientation;d. impulsive market orientation;e. holistic market orientation;45. According to Theodore Levitt, who drew contrasts between the selling and;marketing concepts, ________ is preoccupied with the need to convert products;into cash.;a. marketing;b. selling;c. direct marketing;d. holistic marketing;e. service marketing;46. Companies that practice both a reactive and proactive marketing orientation;are implementing a ________ and are likely to be the most successful.;a. total market orientation;b. external focus;c. customer focus;d. competitive, customer focus;e. confrontation process;47. Companies that adopt and employ the marketing concept switch from being;solely product centered to being more ________ centered.;a. competency;b. strategy;c. marketing;d. customer;e. sales;48. ________ can be seen as the development, design, and implementation of;marketing programs, processes, and activities that recognizes the breadth and;interdependencies of their effects.;a. Niche marketing;b. Holistic marketing;c. Relationship marketing;d. Supply chain marketing;e. Demand-centered marketing;49. ________ marketing aims to build mutually satisfying long-term relations;with key parties such as customers, suppliers, distributors, and other;marketing partners.;a. Holistic;b. Demand-based;c. Direct;d. Relationship;e. Synthetic;50. The strength of the ________ depends on the mutually profitable business;relationships built by the company and its supporting stakeholders.;a. sales network;b. holistic union;c. marketing network;d. supply chain network;e. integrated network


Paper#47299 | Written in 18-Jul-2015

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